Porta Communications PLC Issue of Equity (9707L)
25 April 2018 - 12:10AM
UK Regulatory
TIDMPTCM
RNS Number : 9707L
Porta Communications PLC
24 April 2018
24 April 2018
Porta Communications Plc
("Porta" or the "Company" or the "Group")
Issue of Equity
Porta Communications Plc (AIM: PTCM) announces that it has,
conditional upon Admission, issued and allotted a total of
3,954,619 ordinary shares of 1p each in the capital of the Company
("Ordinary Shares") to two employees of the former PPS Group
Limited ("PPS"), (the "Employees"), to satisfy the second half of
their executive bonus arrangements.
PPS, now the Engage practice within Newgate Communications
Limited, is Porta's wholly owned consultancy that specialises in
reputation management, community and political engagement and
regional PR and advises on projects such as complex property,
infrastructure and energy developments.
As announced on 14 March 2017, a total gross amount of
GBP300,000 (the "Bonus") would be payable in cash or shares to the
Employees, and at that time the first half of the Bonus was
satisfied by the issue and allotment of Ordinary Shares to the
Employees. The Company has now elected to pay the second half of
the Bonus of GBP150,000 (less applicable taxes) through the issue
of Ordinary Shares. Consequently, the Company is issuing 3,954,619
Ordinary Shares to the Employees in full and final settlement of
the Company's obligation to pay the Bonus, calculated with
reference to the average middle market closing price of the
Company's Ordinary Shares for the five business days ending 12
March 2018.
Application for admission to trading
Application has been made for the 3,954,619 Ordinary Shares,
which rank pari passu with the Company's existing issued Ordinary
Shares, to be admitted to trading on the AIM Market of the London
Stock Exchange ("AIM"). Dealings on AIM are expected to commence at
8:00 a.m. on or around 30 April 2018 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission the
issued ordinary share capital of the Company will comprise
460,890,669 Ordinary Shares with voting rights attached (one vote
per share). The Company does not hold any shares in treasury. This
figure of 460,890,669 may be used by the Company's shareholders as
the denominator for the calculation by which they will determine
whether they are required to notify their interest in, or a change
to their interest in the share capital of Porta under the DTRs.
-- ends --
Enquiries
Porta Communications Plc
Gene Golembiewski, Executive Director
www.portacomms.com
+44 (0) 20 7680 6500
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison
+44 (0) 207 383 5100
N+1 Singer (Broker)
James Maxwell
Lauren Kettle
+44 (0) 20 7496 3000
Newgate Communications (Media Enquiries)
Bob Huxford
Adam Lloyd
James Ash
+44 (0) 20 7680 6550
porta@newgatecomms.com
Notes to Editors:
Porta is a fully integrated communications and marketing group
with specialisms including financial, corporate and consumer public
relations, public affairs and research and multi-capability
marketing, brand and creative communications.
The group has offices in Abu Dhabi, Beijing, Brisbane, Bristol,
Canberra, Cardiff, Edinburgh, Hong Kong, London, Manchester,
Melbourne, Perth, Shanghai, Singapore and Sydney.
The brands and companies it owns are Newgate Communications,
Redleaf Communications, Publicasity and 2112 Communications.
Porta Communications' corporate website is
www.portacomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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